We’ve previously discussed seven main home features to take into account when shopping for a house. Home features like the number of bedrooms, the yard, and the kitchen layout are a few. Today we are going to talk a bit more in-depth about four less-obvious home facts that are important factors in your decision to make an offer on the home, but that aren’t features of a home that you’d see during a showing or virtual walk-through. Here are four home facts to ask about before making the decision to write an offer.
4 Home Facts to Ask About Before Writing an Offer
Some parts of the home buying decision process aren’t glamorous or fun. It would be easier if loving the layout, interior colors, and overall square footage was all that mattered. Your real estate agent, home inspector, and the county or city records offices, and even neighbors can help you find out the answers to these 4 questions.
- The Home’s Selling History. This may provide some additional insight into the home’s history overall and the market it’s in. How has the value changed over time? How many owners has the property had? How long has it sat on the market when it was previously listed for sale? Were there issues that kept the home from selling before?
- Problems and Issues. Not only is the inspection report a fantastic way to evaluate the quality and condition of the home you are looking at buying, but the disclosure paperwork from the seller is an important additional way to analyze what issues the home has had and how they have been addressed. You want to know as much as possible about what major repairs have been done and how those repairs were handled.
- Property Taxes. This one can be easy to overlook, especially for first-time home buyers who might only be looking at the purchase price and not the other associated costs like property taxes and insurance. A home’s property taxes will often be part of your monthly mortgage payment, so it’s important to understand how much this will add. Also, consider this a starting point for the total your taxes will be. After you buy the home and as more years go by, it’s likely the taxes will go up.
- Flood Zone. This is another important detail that can be easy to overlook. While you can’t move the house, knowing a home is in a flood zone is a point to consider when making the decision to buy. Finding out the home you want to buy is in a flood zone is not the end of the world; anywhere near a body of water could potentially fit this bill. But knowing if it is in a flood zone may mean you need to look into flood insurance.
Learning More about the Home you May Buy
Your experienced real estate agent will be the best person to start with, as it’s possible they can access information on all of these points for you. They can help you review the documents and provide a more specific explanation of what the answers to these questions are as they relate to the specific home you’re considering writing an offer on.
Working With An Experienced Memphis Area Real Estate Agent
When it’s time to sell your existing home or buy a great new place, turn to a highly regarded and well-informed local real estate agent. You want someone that you can trust to give you the best advice and know-how for your new home purchase or sale. Check out my other great articles to help you through your home selling and buying experience here in Memphis.
Take a minute to learn more about me. With over 15 years of top-notch service for my clients, I can guide you with your house sale, new home purchase, or buying a great parcel of land. As a top, licensed real estate agent in the Memphis area, showing you the best properties for you and your family is my goal!
Contact me at (901) 828-8919 or drop me a quick note at firstname.lastname@example.org and we can speak in person about your plans and options. Ask me about seeing homes for sale by video or virtual tour and find the best place for you!
Angie Kelley, Crye-Leike Realtors
(901) 828-8919 or (901) 756-8900